Sector Sustains Losing Streak With N20b In Mobile Insurance There seems to be no end to the insurance sector’s losses, as an estimated N20 billion yearly expected premium from mobile insurance may have been taken over by network operators, which now sell insurance products and...

New capital Base for Underwriters Effective Jan’19 The National Insurance Commission (NAICOM) has set a Tier-Based Minimum Solvency Capital (TBMSC) model that allows small underwriting firms to operate alongside the bigger ones in the market and will come into effect in January 2019 The new model...

NIIDP Launch Underway- Kari The much-awaited launch of the Nigerian Insurance Industry Development Plan (NIIDP) would soon be realizable, Commissioner for Insurance/CEO National Insurance Commission (NAICOM), Alhaji Mohammed Kari has said. Kari disclosed this Monday in his address at the opening ceremony of the 2018 Insurance...

Corporate Governance: NAICOM Considers Tenure for All Directors Pending the final release of the corporate governance code for the Nigerian Insurance sub-sector, National Insurance Commission (NAICOM) may tinker with the tenure and re-election of Directors in all insurance companies in Nigeria. Commissioner for Insurance, Mr. Mohammed...

African insurers lose N1.8tr to offshore transfers African insurers lose about N1.78 billion ($5 million) annually in premiums transferred to reinsurance companies abroad. According to a special report obtained by Financial Vanguard on confidential basis, and data from African Insurance Organization (AIO), the losses are...

NAICOM: Solvency Ratio Report False, Misleading The National Insurance Commission (NAICOM) has said that a recent media report (not Economic Confidential) titled "solvency of 5 Insurers fall below regulatory threshold", was not only false but misleading and out of tune with the extant laws and...